Price Club was the pioneer of the warehouse store

Warehouse club

A warehouse club is a retail store, usually selling a wide variety of merchandise, in which customers are required to buy large, wholesale quantities of the store's products, which makes these clubs attractive to both bargain hunters and small business owners. The clubs are able to keep prices low...

. Founded by Sol Price

Sol Price

Sol Price was the founder of FedMart and Price Club . He is considered a pioneer of the "warehouse store" retail model....

 in San Diego, California

California

California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...

 in 1976, the company charged shoppers a $25 annual membership fee to purchase bulk products at discount prices in a no-frills warehouse setting. Price Club's high sales volume enabled Price to give his employees more benefits and higher wages than typical retailers. The company expanded throughout the U.S., Canada, and Mexico. In 1992, Price Club earned $134.1 million on $6.6 billion in revenue from 94 locations.

Price Club merged with rival Costco

Costco

Costco Wholesale Corporation is the largest membership warehouse club chain in the United States. it is the third largest retailer in the United States, where it originated, and the ninth largest in the world...

 in 1993, becoming PriceCostco. In 1997, PriceCostco became Costco Wholesale Corporation and all remaining Price Club stores were rebranded as Costco.